Taxes & Incentives

Access to funds and networks that can help businesses grow is available to clients from The Fox Cities Regional Partnership. We know the ins-and-outs when it comes to taxes, incentives, and additional funding opportunities.

TAXES:

Corporate Income Tax

7.9%

State Sales Tax

5%

Property Tax (per capita)

$1,758

The Wisconsin Manufacturing and Agricultural Tax Credit is equal to 7.5% of a company’s qualified production activities income and can be taken against the corporate income tax liability, thus reducing the rate of tax on Wisconsin manufacturing income from 7.9% to .4%. More info: WEDC Wisconsin Manufacturing and Agricultural Tax Credit

Intended to bring about a permanent increase in the ability of low-income individuals to become economically and emotionally self-sufficient. A number of programs are offered with the goal of creating living wage jobs, such as the following.

Lease/Purchase Program – CAP builds or buys and renovates a facility to a business’ specifications then leases it to the business at its cost with an option to purchase. In return, the business commits to hiring low-income persons.

Jobs and Business Development Program – A program available to individuals whose household income is 200% of the Federal poverty level or to businesses that create jobs for low-income persons.

This funding is used to solely benefit our state’s manufacturers who wish to utilize renewable energy or energy efficiency technologies in their facilities, enter a green energy supply chain with a newly developed commercial technology, or retool an existing product to serve the renewable energy or energy efficiency marketplace.

Grant-based investments under the Planning and Local Technical Assistance programs intend to assist eligible recipients in creating regional economic development plans designed to stimulate and guide the economic development efforts of a community or region.

These two grant programs to support the growth and expansion ofWisconsin’s exports. The matching grant programs will assist Wisconsin businesses with export training, development and promotion activities.

Export Development Grant – This grant is designed to help small-medium sized companies become export-ready and to assist them in developing the internal competence to enter and expand into global markets.

International Market Access Grant – This grant can be used for reimbursement of specific expenses associated with exhibiting at an approved trade show in a foreign market, participating in a matchmaker trade delegation program or certified trade mission, website and literature localization and consulting services needed to meet certain international product certification requirements.

Designed to provide debt financing to growth companies that create new, high-quality jobs in Wisconsin. These debt funds are intended to be complimentary to early stage equity allowing companies to access capital at predictable costs.

Conducts public interest projects and provides professional insight and services to institutions and individuals seeking to foster change through strategic philanthropy. Intended to help donors and social entrepreneurs launch new projects quickly and effectively, collaborate with each other efficiently, and develop high-impact grant-making programs.

Partners with private borrowers and local governments to provide tax-exempt financing for public benefit projects that create temporary and permanent jobs, affordable housing, community infrastructure and improve the overall quality of life in local communities.

A highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization.

Business Loans and Grants – Working in partnership with the private sector and the community-based organizations to provide financial assistance and business planning. Helping fund projects that create or preserve quality jobs and/or promote a clean rural environment. Often leveraged with those of other public and private credit source lenders to meet business and credit needs in under-served areas. Recipients of these programs may include individuals, corporations, partnerships, cooperatives, public bodies, nonprofit corporations, Indian tribes, and private companies.

Cooperative Grants and Other Programs — Intended to promote understanding and use of the cooperative form of business as a viable organizational option for marketing and distributing agricultural products.

Single Family Housing Loans and Grants – Provide homeownership opportunities to low- and moderate-income rural Americans through several loan, grant, and loan guarantee programs. The programs also make funding available to individuals to finance vital improvements necessary to make their homes decent, safe, and sanitary.

Multi Family Housing Loans and Grants – Provide Rural Rental Housing Loans to provide affordable multi-family rental housing for very low-, low-, and moderate-income families;the elderly;and persons with disabilities. This is primarily a direct mortgage program, but funds may also be used to buy and improve land and to provide necessary facilities such as water and waste disposal systems. In addition, deep subsidy rental assistance is available to eligible families.

Beginning Farmer and Farm Asset Owner Credit: Provides established farmers with a state income tax credit for the annual cash lease for depreciable farm assets that are leased for at least three years to qualified beginning farmers and a one-time, state income tax credit to beginning farmers to reimburse them for tuition paid to take courses in farm business management or accounting.

Dairy and Livestock Farm Investment Credit: For farm modernization or expansion. Includes money spent to construct, improve or acquire buildings or equipment for dairy animal or livestock housing, feeding, milk production or waste management.

Farmland Preservation Credit: Provides participating landowners with an opportunity to claim farmland preservation tax credits. The tax credits are income tax credits that are applied against tax liability.

Beginning in 2013, over the course of four years, this tax credit is intended to reduce the tax rate of a company’s qualified production activity income, as defined under the Internal Revenue Code, which is derived from property assessed as manufacturing or agricultural property in Wisconsin, as defined under state property tax law.

Provides an incentive for private for profit employers to hire individuals of certain target groups, which have traditionally faced significant barriers to employment. These credits reduce an employer’s cost of doing business and require little paperwork. Employers can save up to $2,400 per new hire. For the Long-Term Family Assistance recipients, the employer can save up to $9,000 per new hire, over a two year time period.

Provides up to $8000 per property address, to commercial property owners and/or merchants for exterior building and site improvements. Facade restoration projects within the downtown commercial district are priority projects, but there are not exclusions for commercial properties.

Offers property owners the opportunity to apply for a $50,000 loan at 2% interest to complete taxable improvements to properties located in the city’s two central business tax incremental finance districts.

Grand Chute offers IRB financing for businesses seeking to expand and create new jobs. The Town serves as the conduit for a company to finance capital investment projects at a lower interest rate through issuance of tax-exempt bonds.

Greenville offers IRB financing for businesses seeking to expand and create new jobs. The Town serves as the conduit for a company to finance capital investment projects at a lower interest rate through issuance of tax-exempt bonds.

The Redevelopment Authority of the City of Kaukauna (RACK) provides low interest loans to assist entrepreneurs in acquiring downtown properties, expanding existing facilities, or purchasing equipment. RACK also administers a Property Assessed Clean Energy (PACE) loan program that lends funds to companies for the completion of energy efficient improvements.

Within the Central Business District and the Industrial Park Network are tax incremental finance districts (TIF) to provide necessary assistance in the placement of infrastructure and other public programs.

Unlike most conventional loans, IRBs can offer businesses a convenient, long-term, and often a fixed-rate financing package. Similar to other municipal bonds, the interest earned on IRBs is exempt from federal income taxes. As a result, the bond buyer is willing to accept a lower rate of interest in exchange for tax-free income.

Offering 50% matching grants, up to $10,000 per storefront, to central business district property owners and merchants who are planning a storefront project. The objective of the program is to support private reinvestment in downtown properties, preserve the historic character of downtown storefronts, promote visible improvement that positively impacts the district, and to increase business in the district.

Unlike most conventional loans, IRBs can offer businesses a convenient, long-term, and often a fixed-rate financing package. Similar to other municipal bonds, the interest earned on IRBs is exempt from federal income taxes. As a result, the bond buyer is willing to accept a lower rate of interest in exchange for tax-free income.